Feb. 12, 2020—NTB Tire & Service Centers announced it will sell 112 retail stores to Mavis Discount Tire, according to a press release.
The 112 stores are geographically located in the greater Philadelphia, Boston, Atlanta and Chicago areas. Upon close of the transaction, which is expected to occur within the next month, TBC’s company-owned retail footprint represented by the Tire Kingdom and NTB brands will span 615 locations. National Tire Wholesale and Mavis have also entered into a distribution relationship.
“Further consolidating our NTB footprint is consistent with our strategy to focus on core markets and entering into this agreement with Mavis makes great strategic sense for our company,” recognized Erik R. Olsen, President and CEO of TBC Corporation, said in the release. “The cash from this sale will serve to accelerate strategic initiatives that we are confident will support our underlying mission to exceed the expectations of all of our customers and partners spanning retail, franchise, wholesale, distribution and e-commerce.”
